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Software advice needed!

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  • Software advice needed!

    I’m looking for advice regarding accounting software. My accounting problem is as follows:

    I am an emergency medicine physician that works as an independent contractor in 3-5 states per year and earn my income through a pass-through corporation (LLC registered in OR that files as an S-Corp and is registered as a foreign entity in that states that I work in). I have 400k to 600k of income per year. I have a variety of business expenses that are either reimbursable (travel, lodging, meals, etc.) and non-reimbursable (laptops, scrubs, conferences, etc.). I also have my health insurance through a separate LLC (LBMC) that “employs” all the members (many thousands of physicians) in order to provide insurance, I receive a K1 from them. I also am a member of a family trust for a S-Corp engineering firm with pass through income from a company that my father owns and the family has partial ownership of (net zero income for me, but set up for inheritance planning purposes), this leads to another K1 as they do business in 3-4 states and internationally. For personal finances I have some investments and bank accounts and I like track all my expenses for budgeting. Never married, no kids.

    My current financial management consists of a CPA (for my income) that coordinates with a CPA for my father’s company. I track everything with two spreadsheets – one for business and one personal. This is getting to be more laborious than I would like. It worked well in residency, but not so much now. It is also inflexible with communicating with my CPA as well doing “what if scenarios” for tax planning.


    1. Manage expenses in commonly used software to coordinate better with accountants. I suspect Quickbooks due to its ubiquity. Open to suggestions.

    2. Be able to track expenses from my phone with both personal and work expenses clearly delineated. I would also like the CPA to be able to pull the data at their leisure rather than 1-2 week turn around with some back and forth for usual requests.

    3. Ability to clearly compartmentalize personal and work expenses.

    4. Dashboard to be able to understand my financial patterns.

    5. Integration with tax software for planning purposes. The CPA handles all the details now (including payroll) and I am planning on keeping it that way for the foreseeable future.

    6. Avoid vendor lock in. I would like the ability to export and migrate is needed in the future.


    PS Many thanks to the WCI for taking time to answer some basic questions for me back in medical school. I'm now through residency and 1-1/2 out! Loans are paid off and I'm looking forward to sorting out my financial future!

  • #2
    Quickbooks desktop version.  Our CPA said they'd fire us if we switched to Quickbooks online, and they're family!